Federated Hermes Inc. Sells 4,986 Shares of Rambus Inc. (NASDAQ:RMBS)

Federated Hermes Inc. lowered its stake in Rambus Inc. (NASDAQ:RMBS) by 27.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 13,013 shares of the semiconductor company’s stock after selling 4,986 shares during the quarter. Federated Hermes Inc.’s holdings in Rambus were worth $688,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC raised its holdings in shares of Rambus by 1,657.4% during the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock valued at $29,188,000 after purchasing an additional 520,754 shares during the period. World Investment Advisors LLC acquired a new position in Rambus during the 3rd quarter worth approximately $989,000. Campbell Newman Asset Management Inc. boosted its holdings in Rambus by 72.2% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company’s stock worth $2,064,000 after acquiring an additional 16,376 shares in the last quarter. Atria Investments Inc acquired a new stake in Rambus in the fourth quarter valued at approximately $336,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Rambus by 28.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 12,909 shares of the semiconductor company’s stock valued at $682,000 after acquiring an additional 2,853 shares in the last quarter. 88.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RMBS. Evercore ISI started coverage on shares of Rambus in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target for the company. Susquehanna boosted their target price on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 price target on shares of Rambus in a research report on Monday, February 3rd. Wells Fargo & Company boosted their price objective on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Rosenblatt Securities raised their target price on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $76.71.

Rambus Trading Down 3.3 %

Shares of Rambus stock opened at $45.92 on Thursday. The firm has a market capitalization of $4.93 billion, a P/E ratio of 27.66 and a beta of 1.20. The business’s fifty day simple moving average is $54.80 and its 200 day simple moving average is $54.06. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15.

Insider Transactions at Rambus

In related news, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total value of $3,559,282.54. Following the sale, the chief operating officer now owns 93,841 shares of the company’s stock, valued at approximately $6,383,064.82. The trade was a 35.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $47.79, for a total value of $477,900.00. Following the transaction, the chief executive officer now directly owns 326,844 shares of the company’s stock, valued at approximately $15,619,874.76. This trade represents a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,952 shares of company stock worth $6,447,055 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Rambus Company Profile

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.